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Sep 30, 2020
Simon Q3 2020 Earnings Report
Simon Property Group's results reflected solid profitability and substantial improvement in cash flow from operations.
Key Takeaways
Simon Property Group reported solid profitability and substantial improvement in cash flow from operations for Q3 2020. The company is encouraged by increases in shopper traffic, retailer sales and tenant rent collections. As of November 6, 2020, the Company has collected from its U.S. retail portfolio, 85% of its net billed rents for the third quarter.
SPG collected 85% of net billed rents for Q3 from U.S. retail portfolio as of Nov 6, 2020.
Completed redevelopment of former department store spaces at Broadway Square and Cape Cod Mall.
Rinku Premium Outlets (Izumisano, (Osaka) Japan) opened a 110,000 square-foot expansion.
As of September 30, 2020, Simon had more than $9.7 billion of liquidity.
Forward Guidance
The company did not provide specific financial guidance for the next quarter or fiscal year in the provided document.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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